Profit at King’s dress maker drops by more than 50%
Making History: At his coronation, King Charles wore the toga made for George VI
Royal dress-making industry profits have fallen by more than 50 percent as the post-Covid boom fades.
Ede & Ravenscroft reported a profit of £1.5m for the year to the end of September 2023, down from £3.4m the year before. Sales also fell 6 percent to £45.3 million.
It follows a successful 2022 for London’s oldest tailor, which benefited from the return of physical graduation ceremonies. These were often larger because students who graduated in 2020 and 2021 also participated.
But the company, which has made gowns for 12 coronations since it was founded in 1689, says it is under pressure from “rising raw material prices”.
At his coronation, King Charles wore the gown that had been specially made for George VI when he was crowned in 1937.